2. U.S. wins WTO ruling against China's grain import quotas
What's going on
Yesterday the United States won a World Trade Organization ruling against China's use of tariff-rate quotas for rice, wheat and corn after successfully arguing the quotas limited market access for U.S. grain exports. The WTO said that under the terms of China's 2001 WTO accession, China's administration of the tariff-rate quotas as a whole violated its obligation to administer them on a "transparent, predictable and fair basis." The case was lodged by the Obama administration in 2016, and the WTO's ruling comes amid U.S.-China trade talks.